2015 med tech R&D budget: $850 million
Change from 2014 budget ($817 million): 4%
Percent of 2015 segment sales ($7.5 billion): 11%
Boston Scientific ($BSX) committed to R&D after a few disappointing quarters, and now, it’s ready to expand. After four of its 7 businesses posted double-digit organic growth during the first quarter of 2016, the company plans to focus on a restructuring program to “support long-term growth and innovation,” it said in June.
"We are taking these steps to build on our momentum and meet the challenges of affordable health care around the globe," CEO Michael Mahoney said at the time. "We will continue to invest in strategic growth opportunities that enhance our reach, capabilities and efficiency to sustain our global competitiveness. These initiatives can help us deliver innovative solutions to more patients and enable profitable growth over the long term."
Boston Scientific already has some projects in place that could fuel R&D. In October, Boston Scientific said it would exercise its $200 million option to acquire Israel’s MValve Technologies. The deal helped the company get its hands on MValve’s transcatheter mitral valve replacement system for mitral regurgitation.
In March 2016, Boston Scientific revealed a long-standing research deal with the Mayo Clinic. Boston Scientific and Mayo are working on a dozen projects, including four that will reach “first-in-man” clinical trials in 2016.
Boston Scientific has also concentrated on its devices for peripheral artery disease. In August, the company got FDA approval for its Innova stent for PAD. The next month, Boston Scientific announced that its drug-eluting peripheral stent--a cornerstone of its R&D strategy--achieved the highest 12-month primary patency rate compared with other investigational devices to treat blocked arteries in the leg.
Boston Scientific revamps itself to continue chasing long-term growth
Boston Scientific and Mayo Clinic reveal long-standing med tech R&D deal
Boston Scientific announces $200M option to purchase Israeli transcatheter mitral valve player
Boston Scientific gets the first (partially) bioabsorbable stent to FDA approval
Boston Scientific heads to the clinic with its first bioabsorbable, drug-eluting coronary scaffold